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VietNamNews

For firms hit by rioting, it's back to business as usual

Update: May, 31/2014 - 09:44
Workers return to work as normal at Esquel Garment Manufacturing Viet Nam Company in the southern province of Binh Duong. — VNA/VNS Photo Thanh Vu

HCM CITY (VNS)— A representative from the Hong Kong Business Association was positive yesterday about Government efforts to restore business confidence after the recent rioting.

He told a meeting organised by the Viet Nam Chamber of Commerce in HCM City that firms would continue to do business despite the incidents.

The riots were triggered by the installation of a Chinese oil rig in Viet Nam's waters.

Tran Van Nam, deputy chairman of the People's Committee of Binh Duong Province, the region that suffered the heaviest damage in the south, said that 98 per cent of affected firms in the province had resumed operations.

Delegates from foreign business associations said that thanks to the Government's support and efforts by businesses, most companies forced to close had resumed normal production.

Government officials told foreign investors that Viet Nam would ensure the future safety and security of their businesses.

Business associations from Japan, mainland China, Taiwan, the United States, the European Union, Italy, France, Malaysia, and Hong Kong were represented at the meeting together with officials from HCM City, Binh Duong and Dong Nai provinces and representatives from ministries and agencies.

Colonel Ho Van Muoi, deputy chief of the Public Security Ministry's Department of Financial and Monetary Security, said that since opening the door to foreign investors, Viet Nam had worked to ensure their safety and security.

"The unrest on May 13-14 was not our wish," he said. "We felt very sorry about things, especially the losses incurred by enterprises."

Muoi said the ministry had mapped out plans to ensure there would be no repeat incidents.

He said the Government had issued policies to support riot-hit firms so they could resume operations, including a reduction in import tax on machinery and equipment, land rental fees and compensation for losses by enterprises.

However, Taiwanese Business Association representatives from Binh Duong Province and other foreign business said all of the Government's documents on supporting protest-hit firms were written in Vietnamese, making it hard for some businesses to understand.

They said each riot-hit firm had suffered a different rate of damage, so the Government should have different support levels.

They suggested that insurance companies be instructed to quickly assess damage rates and pay compensation to affected firms.

They also said the Government should provide damaged firms with incentive loans to reduce their burden. — VNS


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